Adams Corporation, a public company traded on the Toronto Stock Exchange, at December 31, 2020 has summarized the following financial information.The intra-period income tax allocation has not been applied.

• Comprehensive income for the year was $325,620
• The fair value for investments (OCI) at the end of the year dropped by $4,800
• Unrecorded revenue from 2019 is $52,000 (discovered in 2020, needs to be corrected) (see NOTE 1)
• Total estimated tax expense for the year is $258,280 (see NOTE 2)
• Common shares as at Jan 1, 2020 was $1,069,000 and on Dec 31, 2020 is $1,199,000.(see note 3)
• Retained earnings as at Jan 1, 2020 was $671,000 (see NOTE 4)
• Accumulated other comprehensive income as at Jan 1, 2020 was $86,520

Additional Information:

• NOTE 1: This was revenue that was not recorded in 2019, the year in which it was earned, because of an accounting error.
• NOTE 2: This was the total tax provision for the year, based on normal operations, the error correction, and the tax effect of OCI.
• NOTE 3: No common shares were retired in the year.
• NOTE 4: $80,000 in dividends were declared 2020 of which $30,000 will be paid in January 2021.
• Tax rate on all types of income: 40%.

Adams Corporation

Statement of Changes in Equity

For year ended December 21, 2020